Swedish PMI rose to 53.5 in June as the industrial sector of the economy brightens
Monday, 01 July 2013
The Swedish Purchaser's Managers Index (PMI) rose to 53.5 in June from 51.9 in May, an increase of 1.6 index points.
A press release from Swedbank and SiIF who collect and present the
numbers show that the increase was broad-based, where all sub-indices
made a positive contribution to PMI rose. The results for June show
that the Swedish industrial market has improved further during the
spring and early summer.
Analysts has expected the PMI to reach 52.0 in June.
Orders accounted for the largest contribution to the increase in PMI.
The increase came from both the domestic and export market, which took
a further step into the growth zone. It has also left a positive
impression in the corporate order books.
Companies' production plans have been screwed up and reached 60.9 in
June and is now at its highest levels since the summer of 2011. The
sub-index for employment was 47.8 in June and shows that manufacturing
firms will continue to reduce their workforce, while the index of
production rose. This means that the productivity of the industrial
continues to grow.
Upward price pressures at the producer level is still low, although the
index rose to 42.2 in June from 41.6 in May. A lack of demand and
increasing competition are unlikely to restrict suppliers' prices of
crude and intermediate goods. The index is a compilation of about 200
purchasing managers' assessment of economic development of their
industrial sector and presented by Swedbank and organization of
purchasing and logistics organisation, Silf.
Scancomark.com Team
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